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Agreement Subordinating Existing
<br />Trust Deed to New Deed
<br />Agreement made the 15th day September, 2011, between Jeffrey W. Perry, a single person
<br />and Scott S. Zuidema, a single person, of 13021/2 W 4th Street, Grand Island, Hall County,
<br />Nebraska, herein referred to as trustor, Daniel R Purdy and Annette L. Purdy, Husband and
<br />Wife, of 3559 Hillside Drive, Grand Island, Hall County, Nebraska, herein referred to as
<br />beneficiary.
<br />The parties recite and declare that:
<br />a. Trustor executed a trust deed on October 9, 2009, in favor of beneficiary, which was
<br />recorded on October 13, 2009, in the office of the Register of Deeds, of Hall County, State of
<br />Nebraska as Document No. 200908156 covering the following described property (as defined in
<br />Neb. Rev. State. 76 -201) in Hall County, Nebraska.
<br />The Southerly Seventy Five (75) Feet of Lot Ten (10), Block Six (6), in Bonnie Brae
<br />Addition to the City of Grand Island, Hall County, Nebraska.
<br />b. The above mentioned trust deed was given as security for Loan described in such
<br />trust deed, in the original amount of Ninety Five Thousand Seven Hundred Fifty and 00 /100
<br />($95,750.00) Dollars, executed on October 9, 2009, by trustor in favor of beneficiary.
<br />c. Trustor desires to obtain a loan in the amount of Sixteen Thousand Three Hundred
<br />Ninety-Seven and 211100, from Equitable Bank, 113 -115 N. Locust St., City of Grand
<br />Island, County of Hall, State of Nebraska, herein referred to as lender, but lender requires that
<br />such loan be secured by a trust deed that will be prior to the trust deed in favor of beneficiary.
<br />d. Beneficiary is willing to subordinate the lien of the trust deed in their favor insofar as
<br />it encumbers the above- described premises, to the trust deed made in favor of lender in order that
<br />trustor may obtain such loan from lender. For the reasons set forth above, and in consideration
<br />of the mutual covenants and promises of the parties hereto, trustor and beneficiary covenant and
<br />agree as follows:
<br />SECTION ONE
<br />SUBORDINATION
<br />As an inducement to lender to grant such loan to trustor, beneficiary and trustor hereby
<br />subordinate the above - described trust deed of ()Cl- Q, 200cl , in favor of
<br />beneficiary, to the trust deed in favor of lender that is being recorded with this agreement on
<br />So \oaau y�a010 as Document No-201 0 000 1 ;l in the Office of
<br />the Hall County Register of Deeds, Beneficiary and trustor father agree that the lien of the trust
<br />deed in favor of lender shall be and is in all respects a lien prior and superior to the lien of the
<br />trust deed in favor of lender shall be and is in all respects a lien prior and superior to the lien of
<br />the trust deed in favor of the beneficiary.
<br />SECTION TWO
<br />APPROVAL OF LOAN TERMS
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<br />Agreement Subordinating Existing
<br />Trust Deed to New Deed
<br />Agreement made the 15th day September, 2011, between Jeffrey W. Perry, a single person
<br />and Scott S. Zuidema, a single person, of 13021/2 W 4th Street, Grand Island, Hall County,
<br />Nebraska, herein referred to as trustor, Daniel R Purdy and Annette L. Purdy, Husband and
<br />Wife, of 3559 Hillside Drive, Grand Island, Hall County, Nebraska, herein referred to as
<br />beneficiary.
<br />The parties recite and declare that:
<br />a. Trustor executed a trust deed on October 9, 2009, in favor of beneficiary, which was
<br />recorded on October 13, 2009, in the office of the Register of Deeds, of Hall County, State of
<br />Nebraska as Document No. 200908156 covering the following described property (as defined in
<br />Neb. Rev. State. 76 -201) in Hall County, Nebraska.
<br />The Southerly Seventy Five (75) Feet of Lot Ten (10), Block Six (6), in Bonnie Brae
<br />Addition to the City of Grand Island, Hall County, Nebraska.
<br />b. The above mentioned trust deed was given as security for Loan described in such
<br />trust deed, in the original amount of Ninety Five Thousand Seven Hundred Fifty and 00 /100
<br />($95,750.00) Dollars, executed on October 9, 2009, by trustor in favor of beneficiary.
<br />c. Trustor desires to obtain a loan in the amount of Sixteen Thousand Three Hundred
<br />Ninety-Seven and 211100, from Equitable Bank, 113 -115 N. Locust St., City of Grand
<br />Island, County of Hall, State of Nebraska, herein referred to as lender, but lender requires that
<br />such loan be secured by a trust deed that will be prior to the trust deed in favor of beneficiary.
<br />d. Beneficiary is willing to subordinate the lien of the trust deed in their favor insofar as
<br />it encumbers the above- described premises, to the trust deed made in favor of lender in order that
<br />trustor may obtain such loan from lender. For the reasons set forth above, and in consideration
<br />of the mutual covenants and promises of the parties hereto, trustor and beneficiary covenant and
<br />agree as follows:
<br />SECTION ONE
<br />SUBORDINATION
<br />As an inducement to lender to grant such loan to trustor, beneficiary and trustor hereby
<br />subordinate the above - described trust deed of ()Cl- Q, 200cl , in favor of
<br />beneficiary, to the trust deed in favor of lender that is being recorded with this agreement on
<br />So \oaau y�a010 as Document No-201 0 000 1 ;l in the Office of
<br />the Hall County Register of Deeds, Beneficiary and trustor father agree that the lien of the trust
<br />deed in favor of lender shall be and is in all respects a lien prior and superior to the lien of the
<br />trust deed in favor of lender shall be and is in all respects a lien prior and superior to the lien of
<br />the trust deed in favor of the beneficiary.
<br />SECTION TWO
<br />APPROVAL OF LOAN TERMS
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